Phoenix Arizona Underwriting Agreement of ABFS Mortgage Loan Trust 1999-4 and Prudential Securities, Inc.

• Category: Corporations - Public - Agreements - Underwriting
• State: Multi-State
• City: Phoenix
• Control #: US-EG-9057
• Format: Word; Rich Text

Description

Underwriting Agreement of ABFS Mortgage Loan Trust 1999-4 and Prudential Securities Incorporation dated October 21, 1999. 20 pages Phoenix Arizona Underwriting Agreement of ABCs Mortgage Loan Trust 1999-4 is a legally binding contract between the ABCs Mortgage Loan Trust 1999-4 (the "Issuer") and Prudential Securities, Inc. (the "Underwriter"). This agreement outlines the terms and conditions under which the Underwriter will purchase and sell the mortgage-backed securities issued by the ABCs Mortgage Loan Trust 1999-4 in the Phoenix, Arizona area. Under this Underwriting Agreement, Prudential Securities, Inc. agrees to purchase a specified number of mortgage-backed securities from the Issuer at an agreed-upon price. The securities consist of a pool of mortgage loans originated by ABCs Mortgage Loan Trust 1999-4, which are backed by real estate properties located in the Phoenix, Arizona region. The Underwriter then assumes the responsibility of selling these securities to investors in the market. The purpose of this Underwriting Agreement is to facilitate the issuance and distribution of mortgage-backed securities in the Phoenix, Arizona market, allowing the ABCs Mortgage Loan Trust 1999-4 to raise capital through the sale of these securities. Prudential Securities, Inc. acts as the intermediary between the Issuer and the investors by purchasing the securities from the Issuer and subsequently offering them for sale, mitigating the risk for the Issuer. Various types of Phoenix Arizona Underwriting Agreements of ABCs Mortgage Loan Trust 1999-4 and Prudential Securities, Inc. may exist, depending on the specific terms and conditions agreed upon by the parties involved. These may include: 1. Firm Commitment Underwriting Agreement: In this type of underwriting agreement, Prudential Securities, Inc. commits to purchasing the entire offering of mortgage-backed securities from the ABCs Mortgage Loan Trust 1999-4 and assumes the risk if they cannot sell them in the market. 2. The Best Efforts Underwriting Agreement: With the best efforts' agreement, Prudential Securities, Inc. undertakes to use their best efforts to sell the mortgage-backed securities on behalf of the ABCs Mortgage Loan Trust 1999-4. However, they are not obligated to purchase any unsold securities themselves, so the risk and responsibility primarily lie with the Issuer. 3. Standby Underwriting Agreement: This type of agreement is typically used in situations where the ABCs Mortgage Loan Trust 1999-4 seeks to issue mortgage-backed securities as a secondary offering. Prudential Securities, Inc. commits to purchasing any unsubscribed securities that existing shareholders do not purchase, ensuring the desired level of funding is achieved. In conclusion, the Phoenix Arizona Underwriting Agreement of ABCs Mortgage Loan Trust 1999-4 and Prudential Securities, Inc. is a significant financial agreement that facilitates the issuance and distribution of mortgage-backed securities backed by real estate properties in Phoenix, Arizona. The use of different types of underwriting agreements allows for flexibility in terms of risk allocation and financial outcomes for both parties involved.

Phoenix Arizona Underwriting Agreement of ABCs Mortgage Loan Trust 1999-4 is a legally binding contract between the ABCs Mortgage Loan Trust 1999-4 (the "Issuer") and Prudential Securities, Inc. (the "Underwriter"). This agreement outlines the terms and conditions under which the Underwriter will purchase and sell the mortgage-backed securities issued by the ABCs Mortgage Loan Trust 1999-4 in the Phoenix, Arizona area. Under this Underwriting Agreement, Prudential Securities, Inc. agrees to purchase a specified number of mortgage-backed securities from the Issuer at an agreed-upon price. The securities consist of a pool of mortgage loans originated by ABCs Mortgage Loan Trust 1999-4, which are backed by real estate properties located in the Phoenix, Arizona region. The Underwriter then assumes the responsibility of selling these securities to investors in the market. The purpose of this Underwriting Agreement is to facilitate the issuance and distribution of mortgage-backed securities in the Phoenix, Arizona market, allowing the ABCs Mortgage Loan Trust 1999-4 to raise capital through the sale of these securities. Prudential Securities, Inc. acts as the intermediary between the Issuer and the investors by purchasing the securities from the Issuer and subsequently offering them for sale, mitigating the risk for the Issuer. Various types of Phoenix Arizona Underwriting Agreements of ABCs Mortgage Loan Trust 1999-4 and Prudential Securities, Inc. may exist, depending on the specific terms and conditions agreed upon by the parties involved. These may include: 1. Firm Commitment Underwriting Agreement: In this type of underwriting agreement, Prudential Securities, Inc. commits to purchasing the entire offering of mortgage-backed securities from the ABCs Mortgage Loan Trust 1999-4 and assumes the risk if they cannot sell them in the market. 2. The Best Efforts Underwriting Agreement: With the best efforts' agreement, Prudential Securities, Inc. undertakes to use their best efforts to sell the mortgage-backed securities on behalf of the ABCs Mortgage Loan Trust 1999-4. However, they are not obligated to purchase any unsold securities themselves, so the risk and responsibility primarily lie with the Issuer. 3. Standby Underwriting Agreement: This type of agreement is typically used in situations where the ABCs Mortgage Loan Trust 1999-4 seeks to issue mortgage-backed securities as a secondary offering. Prudential Securities, Inc. commits to purchasing any unsubscribed securities that existing shareholders do not purchase, ensuring the desired level of funding is achieved. In conclusion, the Phoenix Arizona Underwriting Agreement of ABCs Mortgage Loan Trust 1999-4 and Prudential Securities, Inc. is a significant financial agreement that facilitates the issuance and distribution of mortgage-backed securities backed by real estate properties in Phoenix, Arizona. The use of different types of underwriting agreements allows for flexibility in terms of risk allocation and financial outcomes for both parties involved.